Stock repurchases helped WellPoint Inc. increase earnings per share during the second quarter even though total profits fell.

Here is a summary of the latest earnings news at WellPoint and other insurers:

WellPoint Inc., Indianapolis.

2 Q 2008 Results

NET INCOME: $750 million

REVENUE: $16 billion

NET INVESTMENT RESULTS: $28 million loss

COMMON SHARES: 523 million

HEALTH PLAN MEMBERS: 35 million

2 Q 2007 Results

NET INCOME: $835 million

REVENUE: $15 billion

NET INVESTMENT RESULTS: $900,000 gain

COMMON SHARES: 618 million

HEALTH PLAN MEMBERS: 35 million

- WellPoint used repurchases to cut the number of shares of WellPoint common stock on the market 15%. That helped increase earnings per share 6.7%, to $1.44, despite a 10% drop in total net income.

- Commercial group plan enrollment increased 2%, but WellPoint saw commercial enrollment shifting more toward employer-funded plans, away from fully insured plans. The company is adding account retention programs and broker incentive programs in an effort to increase fully insured commercial enrollment.

- WellPoint is responding to adverse selection problems in its Medicare Advantage plans by adding medical management programs and by adjusting 2009 benefits and rates.

Aflac Inc., Columbus, Ga.

2 Q 2008 Results

NET INCOME: $483 million

REVENUE: $4.3 billion

REALIZED INVESTMENT CHANGE: $1 million loss

2 Q 2007 Results

NET INCOME: $415 million

REVENUE: $3.8 billion

REALIZED INVESTMENT CHANGE: $9 million gain

- Aflac, which gets much of its revenue from selling cancer insurance, health insurance and other products in Japan, says it benefited from a 16% increase in the strength of the yen relative to the dollar since the second quarter of 2007.

- Cancer insurance sales in Japan fell as a result of product shifts, but sales of medical insurance increased 8.7%.

- U.S. revenue increased 8.4%, to $1.2 billion, and premiums from new U.S. sales rose 4.9%, to $383 million.

- The number of newly recruited agents increased 4.2%, to about 6,700.

- Aflac Chairman Daniel Amos says the company believes its products will be affordable for U.S. consumers even if the economy is weak. “We are convinced that the protection our products provide is even more valuable when a significant health event occurs at a time of rising food and gas prices, and we’re working to convey that message to consumers through our commercials and sales force,” Amos says.

Allstate Corp., Northbrook, Ill.

2 Q 2008 Results

NET INCOME: $25 million

REVENUE: $7.4 billion

REALIZED INVESTMENT CHANGE: $1.2 billion loss

ALLSTATE FINANCIAL OPERATING INCOME: $118 million

FINANCIAL PREMIUMS AND DEPOSITS: $4.5 billion

2 Q 2007 Results

NET INCOME: $1.4 billion

REVENUE: $9.5 billion

REALIZED INVESTMENT CHANGE: $545 million gain

ALLSTATE FINANCIAL OPERATING INCOME: $154 million

FINANCIAL PREMIUMS AND DEPOSITS: $2.9 billion

- At the financial services unit, Allstate Financial, “net investment income declined 12.4% to $943 million, compared to the prior year quarter, due to lower yields on higher short-term securities balances, lower yields on floating rate securities and lower average asset balances,” Allstate says.

- Allstate says much of the $1.2 billion in capital losses it recorded resulted from the effects of portfolio allocation decisions on asset accounting. The company also took $250 million in impairment write-downs, including $2005 million in write-downs on residential mortgage-backed securities and other fixed-income securities. “Over 95% of the fixed income write-downs relate to impaired securities that were performing in line with anticipated or contractual cash flows, but which were written down primarily because of expected deterioration in the performance of the underlying collateral,” Allstate says.

- Sales of traditional life increased 10%, to $99 million.

- Sales of fixed annuities increased 58%, to about $1 billion.

- Sales of funding agreements backing medium-term notes increased to $2.5 billion, from $1.3 billion.

Torchmark Corp., McKinney, Texas

2 Q 2008 Results

NET INCOME: $134 million

REVENUE: $860 million

REALIZED INVESTMENT CHANGE: $7.7 million loss

2 Q 2007 Results

NET INCOME: $127 million

REVENUE: $876 million

REALIZED INVESTMENT CHANGE: $2.8 million loss